The British vote to leave the European Union on Wednesday 23rd June sent shock waves throughout the Member States and is proving particularly costly for the Eastern countries that joined the EU in the last enlargement rounds (2004, 2007, 2013).

“Brexit—How the vote went in the end”. Photo by Flickr user Mick Baker, CC 2.0.

The startling results of Brexit, the UK’s referendum about whether or not to remain part of the European Union, has left not only Britons and their fellow Europeans — but also the rest of the world — in complete shock. The June 22 vote resulted in 51.9 percent of the UK voting to leave, and 48.1 percent voting to remain.

After 43 years of EU membership, Britain has decided to retreat into itself, proving that Britons, despite their reputation for pragmatism, are far from exempt from voting against their own interests. The question is whether the rest of the EU can resist the decidedly un-pragmatic forces the Brexit vote is sure to unleash.

Police in London confirmed Sunday (26 June) they were investigating “racially motivated” damage to a Polish cultural centre, in the wake of Britain’s Brexit vote, as other citizens used social media to self-report incidents of racist abuse

Don’t do it. I know what you’re thinking. But don’t do it. Leave your phone in your pocket at the polling station. Just leave it there until you’re out.

The desire to commemorate the moment is strong, to banish the weeks of deafening hysteria on every flickering screen, posting the act of catharsis on Instagram, basking in the post-referendum glow of democracy in action. But then you can expect a £5,000 fine for breaching electoral law. Or half a year in prison. Sorry about that.

To illustrate schadenfreude — pleasure derived from misfortune of others — Wikipedia used the painting “Taming the Donkey,” by Eduardo Zamacois y Zabala (1868), in which a group of monks laughs while the lone monk struggles with the donkey. (Public Domain).

The decision by UK voters to leave the EU is such a glaring repudiation of the wisdom and relevance of elite political and media institutions that – for once – their failures have become a prominent part of the storyline. Media reaction to the Brexit vote falls into two general categories: (1) earnest, candid attempts to understand what motivated voters to make this choice, even if that means indicting one’s own establishment circles, and (2) petulant, self-serving, simple-minded attacks on disobedient pro-leave voters for being primitive, xenophobic bigots (and stupid to boot), all to evade any reckoning with their own responsibility. Virtually every reaction that falls into the former category emphasizes the profound failures of western establishment factions; these institutions have spawned pervasive misery and inequality, only to spew condescending scorn at their victims when they object.

Charlie Stross is in excellent form this morning about the likely outcomes from last night’s Brexit vote, hitting all the highlights: collapse of the finance sector when Euro-denominated derivatives trades relocate to an EU state; collapse of the London property market (a big deal as 40% of the UK’s national wealth is property in the southeast);

Perhaps it’s just wishful thinking or the social media filter bubble I’m in, but there seems to be a more-than-zero chance that Britain won’t actually leave the European Union, despite last Thursday’s vote. For one thing, as I mentioned inmy Friday AM post about Brexit, the vote is not legally binding. The Prime Minister needs to invoke Article 50 of the Treaty on European Union, which has not happened yet.

People voted to leave the EU because they know that their politics is broken. It’s time to fix it.

By Mick Garratt, CC BY-SA 2.0.

And so it begins. First, the wailing and the gnashing of teeth and then, the reproaches and the recriminations. It was an act of self-sabotage, a feat of blinding ignorance, a classic case of those unwashed masses not quite knowing what’s good for them.

In an effort to protect EU’s integrity, European Parliament party leaders have urged David Cameron to fully respect the British citizens’ will and “immediately” activate Article 50 of the Treaty to start Britain’s EU withdrawal process.

Jonathan Hill, the UK Commissioner in charge of financial services, has announced his resignation on Saturday (25 June), apparently bowing to growing pressure from the European Parliament following Britain’s decision to leave the EU.

LONDON — A petition calling for the UK to hold a second referendum on membership in the European Union surpassed 1.3 million signatures on Saturday, in the wake of Britain’s vote to leave the 28-member bloc.